MOSCOW, September 12. /TASS/. The Bank of Russia registers that inflation expectations remain high and are hardly declining in all categories, the regulator’s Governor Elvira Nabiullina said.
She emphasized that the monetary policy pursued has led to the fact that the indicators of sustainable inflation have noticeably decreased since the beginning of the year, but the Central Bank needs time to consolidate the disinflationary trend. "This is especially important in the context of increased inflation expectations. They remain high and have hardly decreased among all groups of the population, businesses and financial markets," she told a press conference following the regulator’s board meeting on the key rate.
The Bank of Russia has lowered the key interest rate for the third consecutive time, this time by 1 percentage point, bringing it down to 17% per annum. The regulator intends to maintain such a level of monetary policy strictness as necessary to bring inflation back to target by 2026, with further decisions on the key rate to depend on the sustainability of the inflation slowdown and the dynamics of inflation expectations.